The European Commission grants temporary approval to aid 3 Spanish banks, saying the banks'...

|By:, SA News Editor

The European Commission grants temporary approval to aid 3 Spanish banks, saying the banks' solvency ratio needs to be boosted up to the magical 10% capital ratio. The banks in line to receive capitalization - NCG Banco, Catalunya Banc and Unnim Banc - were created earlier this year as part of Spain’s banking restructuring.